Financials Operadora de Sites Mexicanos, S.A.B. de C.V.

Equities

SITES1 A-1

MX01SI0C0002

Wireless Telecommunications Services

End-of-day quote Mexican S.E. 03:30:00 03/05/2024 am IST 5-day change 1st Jan Change
20.56 MXN 0.00% Intraday chart for Operadora de Sites Mexicanos, S.A.B. de C.V. +5.27% -14.12%

Valuation

Fiscal Period: December 2022 2023 2024 2025 2026
Capitalization 1 62,079 76,283 65,343 - -
Enterprise Value (EV) 1 62,079 1,13,414 92,323 87,162 84,884
P/E ratio 128 x 95.8 x 54.4 x 30.5 x 27.8 x
Yield - - 2.82% 2.89% 3.95%
Capitalization / Revenue 5.71 x 6.42 x 5.05 x 4.75 x 4.48 x
EV / Revenue 5.71 x 9.54 x 7.13 x 6.34 x 5.82 x
EV / EBITDA 6.17 x 10.1 x 7.56 x 6.82 x 6.32 x
EV / FCF - 25.7 x 15.7 x 13.1 x 13.3 x
FCF Yield - 3.89% 6.35% 7.61% 7.49%
Price to Book - 2.71 x 1.64 x 1.73 x 1.73 x
Nbr of stocks (in thousands) 32,38,317 31,86,410 31,78,148 - -
Reference price 2 19.17 23.94 20.56 20.56 20.56
Announcement Date 08/02/23 20/02/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net sales 1 - 10,867 11,888 12,942 13,751 14,574
EBITDA 1 - 10,065 11,257 12,205 12,777 13,422
EBIT 1 - 4,197 4,737 6,695 7,256 8,338
Operating Margin - 38.62% 39.85% 51.73% 52.77% 57.21%
Earnings before Tax (EBT) - 791.8 1,580 - - -
Net income 1 48.28 106 410.1 1,205 2,150 2,356
Net margin - 0.98% 3.45% 9.31% 15.63% 16.17%
EPS 2 7.810 0.1500 0.2500 0.3782 0.6747 0.7394
Free Cash Flow 1 - - 4,411 5,866 6,631 6,361
FCF margin - - 37.11% 45.32% 48.22% 43.65%
FCF Conversion (EBITDA) - - 39.18% 48.06% 51.9% 47.39%
FCF Conversion (Net income) - - 1,075.51% 486.74% 308.44% 269.98%
Dividend per Share 2 - - - 0.5788 0.5938 0.8117
Announcement Date 17/02/22 08/02/23 20/02/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 2,566 2,749 2,679 2,873 2,836 2,948 2,988 3,105 - 3,220 3,293 3,389
EBITDA 2,426 2,490 2,532 2,618 2,697 2,768 2,840 2,952 - 3,087 3,157 3,249
EBIT 924.7 1,093 1,027 1,153 1,085 1,144 1,185 1,322 - 1,854 1,821 1,866
Operating Margin 36.04% 39.75% 38.32% 40.15% 38.27% 38.81% 39.68% 42.57% - 57.58% 55.3% 55.06%
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income -34.8 17.1 -38.54 162.3 -28.01 162.3 85.28 190.6 - 384 355 487
Net margin -1.36% 0.62% -1.44% 5.65% -0.99% 5.51% 2.85% 6.14% - 11.93% 10.78% 14.37%
EPS 1 -0.0100 0.0400 -0.0119 0.0800 -0.0200 0.0800 0.0600 0.0900 0.0600 0.1003 0.0500 0.1364
Dividend per Share - - - - - - - - - - - 0.6300
Announcement Date 28/04/22 27/07/22 27/10/22 08/02/23 02/05/23 28/07/23 24/10/23 20/02/24 - - - -
1MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 37,132 26,980 21,819 19,541
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) - - 3.298 x 2.211 x 1.708 x 1.456 x
Free Cash Flow 1 - - 4,411 5,866 6,631 6,361
ROE (net income / shareholders' equity) - - 1.48% 5.98% 6.6% 7.56%
ROA (Net income/ Total Assets) - - 0.39% 4.25% 4.29% 4.09%
Assets 1 - - 1,04,095 28,364 50,078 57,591
Book Value Per Share 2 - - 8.820 12.60 11.90 11.90
Cash Flow per Share - - 2.220 - - -
Capex 1 - - 2,668 3,000 2,856 2,769
Capex / Sales - - 22.44% 23.18% 20.77% 19%
Announcement Date 17/02/22 08/02/23 20/02/24 - - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
3
Last Close Price
20.56 MXN
Average target price
19.47 MXN
Spread / Average Target
-5.32%
Consensus
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